Page 73 - Finance News
Indian Bank cuts lending rate for one year maturity by 5 bps to 9%
Besides, the Chennai-based bank has announced the complete waiver of minimum balance charges across all Savings Bank accounts, effective July 7, 2025
 "Indian Bank cuts lending rate for one year maturity by 5 bps to 9%")
Pension administration needs urgent, systemic reforms: MoS Jitendra Singh
Union minister Jitendra Singh called for urgent reforms in pension administration, given that the number of central government pensioners now exceeds serving staff and a number of pending legal cases
 "Pension administration needs urgent, systemic reforms: MoS Jitendra Singh")
Need to shift from fortnightly to real-time credit reporting: RBI DG
According to Rao, the shift from fortnightly credit reporting to real time credit reporting requires investments in technology, process reengineering, and change management
 "Need to shift from fortnightly to real-time credit reporting: RBI DG")
RBI DG Rao asks credit info firms to switch to real-time data reporting
Speaking at a conference organised by Cibil here on Tuesday, Rao said quicker relaying of data from the CICs will help in deepening trust, efficiency and transparency in the system for everybody
 "RBI DG Rao asks credit info firms to switch to real-time data reporting")
CBDT raises cost inflation index to 376 for FY26 to ease capital gains tax
CBDT raises Cost Inflation Index to 376 for FY26, offering tax relief on capital gains for assets bought before July 23 2024. New rules reduce indexation scope under Finance Act 2024
 "CBDT raises cost inflation index to 376 for FY26 to ease capital gains tax")
AU Small Finance Bank appoints two independent directors, senior executives
The two independent directors, Nandkumar Saravadeand Jagajit Mangal Prasad, have an experience of over three decades in human capital strategy
 "AU Small Finance Bank appoints two independent directors, senior executives")
RBI panel likely to recommend govt retain current 4% inflation target
Retaining the inflation target would remove some uncertainty about the process and reassure market participants about policy continuity under Governor Sanjay Malhotra
 "RBI panel likely to recommend govt retain current 4% inflation target")
New project finance norms: Banks seek exemption for smaller loans
On June 19, the RBI announced the final norms for project finance, prescribing a one per cent general provision for all projects, as compared to 0.4 per cent now
 "New project finance norms: Banks seek exemption for smaller loans")
Indian scheduled commercial banks' gross NPA ratio at 15-year low
Private sector banks' gross NPA ratio was stable at 2.8 per cent while foreign banks saw a decline to 0.9 per cent from 1.2 per cent
 "Indian scheduled commercial banks' gross NPA ratio at 15-year low")
UPI transaction volume dips 1.5% in June, after record rise in May
IMPS, FASTag and AePS transactions also clock decline
 "UPI transaction volume dips 1.5% in June, after record rise in May")
RBI Governor Sanjay Malhotra to appear before House panel on July 10
At its previous two meetings on the subject on May 28 and 29, the parliamentary standing committee on finance had flagged "ambiguities" in the IBC
 "RBI Governor Sanjay Malhotra to appear before House panel on July 10")
Rupee ends first quarter flat amid global tensions and dollar weakness
The rupee ended Q1 marginally weaker at 85.77 after volatile trading amid Iran-Israel tensions, IPO inflows, oil easing and RBI reducing short dollar positions
 "Rupee ends first quarter flat amid global tensions and dollar weakness")
Cabinet approves ₹1 trillion employment-linked incentive scheme
The ELI scheme aims to generate over 35 million jobs by incentivising first-time workers and employers; EPFO-linked scheme covers jobs from August 2025 to July 2027
 "Cabinet approves ₹1 trillion employment-linked incentive scheme")
SBI's digital transformation immensely benefited customers: FM Sitharaman
Congratulating SBI on completing 70 years of service to the nation, she expressed hope that the Bank will continue to innovate and empower as India
 "SBI's digital transformation immensely benefited customers: FM Sitharaman")
Govt once again extends tenure of FSIB chairman, other members by one year
FSIB is headed by Bhanu Pratap Sharma, former secretary of Department of Personnel and Training (DoPT)
 "Govt once again extends tenure of FSIB chairman, other members by one year")
Writeoffs major factor for lower NPAs in past 5 years, says RBI report
Slippages in unsecured retail loans remained elevated for PVBs, with fresh slippages in this segment continuing to dominate overall slippages in retail loans
External spillovers likely to hit India's financial system: RBI report
Stress tests showed banks' gross NPA to rise under baseline scenario
 "External spillovers likely to hit India's financial system: RBI report")
Corporate bond market saw record issuances in FY25, says RBI report
RBI's Financial Stability Report says corporate bond issuances rose to ₹9.9 trillion in FY25, but secondary market turnover and bond spreads signal subdued activity
 "Corporate bond market saw record issuances in FY25, says RBI report")
Healthy balance sheets augur well for economy: RBI Governor Sanjay Malhotra
In the Financial Stability Report, RBI Governor Sanjay Malhotra says domestic resilience is strong but global tariffs, geopolitics and climate risks could impact growth
 "Healthy balance sheets augur well for economy: RBI Governor Sanjay Malhotra")
International credit rating methods must evolve: FM Nirmala Sitharaman
FM Sitharaman says India's sovereign rating understates macro strength and urges reform in global rating criteria to unlock more private capital and lower financing costs
 "International credit rating methods must evolve: FM Nirmala Sitharaman")